Good choice for older vehicles
4,4/5
Offers convenient home pickup and deliveryEasy to use online platformPays via ACH transfer or certified check
833-672-0583
Receive an offer On the Peddle website
Most hassle-free process
4,5/5
Free, no obligation cash offerExcellent customer service reviewsGreat cash offers on older vehicles and junk cars
Receive an offer On the Carvana website
Selected partner
3,9/5
Offers free pick-up serviceInspector comes to you for salePays off your outstanding loan
321-340-6624
Receive an offer On the Wheelzy website
Selected partner
4,3/5
Free towing with all offersGuaranteed offer for 7 daysRecycles car wrecks
844-596-7477
Receive an offer On the Carbrain website
When is the best time to buy a car?
Most people are familiar with advertisem*nts from local car dealers encouraging people to take advantage of sales, but some car shopping holidays are better than others. Normally the best holidays to buy a car are Christmas Eve, New Year's Eve, Memorial Day and Black Friday.
New Year's Eve and Christmas Eve
If you can, wait until New Year's Eve to buy a car. As mentioned, the end of the year is the time when car salespeople are trying to meet their year-end, quarter, and month-end sales goals.
This is why the Christmas season – especially December 24 and December 27 to 30, according to Carfax – is a good time to go to dealers. Pedestrian traffic is light at this time.
Memorial Day-weekend
Memorial Day weekend is an ideal time for car buyers. It's the holiday weekend that kicks off the summer sales. During this time, car dealers have the largest inventory of outgoing models.
Black Friday
Since Black Friday falls at the end of the year, you should be able to get some great deals. And because it takes place at the end of the model year, current models are discounted more sharply.
Business day
While Labor Day doesn't rank as one of the best holidays for deals, it typically offers more car inventory and competitive pricing. This means more choice than at the end of the year.
Fourth of July
Likewise, Fourth of July has a nice selection of new and current annual cars on the square. This is ideal if you have a specific car or car options in mind.
President's Day
You may want to avoid Presidents Day weekend as it occurs during the slowest time of the year. According to Edmunds, the average manufacturer's suggested retail price discount in February is about 5.7%, the worst reduction of the year. End-of-year holidays often offer the best deals.
Current state of the car market: is it a good time to buy a car?
It's especially important to look for the best times of year to buy as the auto market struggles with inflation, supply chain issues like microchip shortages, and more.
“Forecasting car prices in 2023 is difficult at best,” said Julie Bausch, editor-in-chief ofCar talk, the companion website to the long-running NPR show of the same name."The sector is still recovering from the production problems and shortages caused by the pandemic and the war in Ukraine. There are some signs that prices are starting to fall, but at the moment things are still a bit exaggerated."
According to Kelley Blue Book, the average new car in the United States sold for $49,507 in December 2022,reaches record highs. While prices fell over the next two months, the February average of $48,763 was maintained5.3% higherthen in February 2021.
KBB also reports thisaverage used carin the US it cost $27,143 in December 2022, down $1,050 from the same time in 2021.Costs have fallen againin January, down to $26,510.
How to get the best deal on a car
To save money, you should not rely solely on purchasing during a period when many car purchases are made. To be prepared and to knowhow much car you can affordwill ensure that you are less likely to go over budget. This can also help you avoid the car salesman talking you into something that isn't right for you.
You'll also have more negotiating power – no matter how good a deal – if you get onepre-approved for a car loanfrom your bank or credit union and compare the offer with dealer financing. Protect yourself by reading the fine print and asking about other incentives, discounts and financing deals.
If you have a less than desirable onecreditworthiness, try to improve it before shopping. This is especially helpful if it's January or February, when discounts and lower sticker prices are scarce.
If that's what you plan to doTrade in your current car, here are some things you can do before you step into a showroom:
- If you have a car loan, ask your lender what the down payment amount is.
- Get an estimate of your car's trade-in value.
- Gather service records and other paperwork for your car.
- Show your car in detail.
When is the best time to buy a car?: Conclusion
There are several answers to the best time to buy a car. It is best to buy between October and January 1st. December is also particularly ripe for deals, discounts, rebates and other incentives. This is because car salespeople work aggressively to meet their monthly, quarterly and annual quotas.
Good choice for older vehicles
4,4/5
Offers convenient home pickup and deliveryEasy to use online platformPays via ACH transfer or certified check
833-672-0583
Receive an offer On the Peddle website
Most hassle-free process
4,5/5
Free, no obligation cash offerExcellent customer service reviewsGreat cash offers on older vehicles and junk cars
Receive an offer On the Carvana website
Selected partner
3,9/5
Offers free pick-up serviceInspector comes to you for salePays off your outstanding loan
321-340-6624
Receive an offer On the Wheelzy website
Selected partner
4,3/5
Free towing with all offersGuaranteed offer for 7 daysRecycles car wrecks
844-596-7477
Receive an offer On the Carbrain website
Best Time to Buy a Car: FAQ
December is the cheapest month to buy a car as car dealers clear out their inventory to make room for next year's sales. It's also when car salespeople compete to meet their annual, quarterly and monthly quotas.
The best time to buy a car is between October and January 1. The month of May is also a good time to buy a car because that's when dealers start the summer buying season.
The cheapest time to buy a car is in December, but you can also get good deals in September. This is around the time the next model year cars usually arrive. Take advantage of the Labor Day weekend sale for discounts, rebates and other incentives.
The best time to buy a car is from October to January 1, with December being the most important. This is usually the casepurchase of a new carInused vehicles. But if you can't wait that long, there are other times of year when you can still get great car deals, incentives and discounts.
Car prices drop towards the end of the year as car sellers are in hyperdrive to clear out inventory and meet their sales quotas before the new year so they can earn big cash bonuses. To earn their targeted incentive reward, employees must achieve sales goals within a certain time frame, such as by the end of the month or year.
“The same rules generally apply to both new and used cars,” says David Chou, co-founder and CEO ofMotorstart, a startup that buys and sells luxury cars. But according to Chou, the company's goals or incentives may mean you'll see bigger price swings when negotiating a new vehicle compared to a used one.
When are the worst times to buy a car?
One of the worst times to buy a car is the beginning of the month because car salespeople don't fight as hard to meet their sales quotas. The months with the smallest discounts are January through April, according to Edmunds. Weekends are also a bad time to get a good deal, but holiday weekends are exceptions.
What time of year is the best time to buy?
The best time of year to buy a car is the end of December, especially if you want a new car. If you do not have the opportunity to buy a car at the end of December, May is also a good option. Unlike in winter, you can choose from a large stock of outgoing models.
Final deadlines at the end of the year
Like the end of the calendar year, the end of the model year is an excellent time to buy a car. Dealers offer more discounts and discounts at the end of a model year as they want to make room for next year's new inventory. You'll also likely get bigger discounts on models that are slow to sell, redesigned or discontinued.
End of model year
A good time to buy is when a car's model year has expired. While other buyers are more interested in purchasing newer models, you can get an older model at lower prices. This could work especially if you're not interested in the bells and whistles that the new model has.
Model years generally end around Labor Day for domestic brands (those made in the United States) and in October or November for imported brands (those made in other countries). New car models usually arrive in September or October.
End of car cycles
In addition to year-end sales, you should also take advantage of end-of-cycle deals. There are two cycles to consider if you want savings: an end-of-car design cycle and an end-of-car life cycle.
End-of-Car-Design-cyklus
This is when a car manufacturer completely redesigns a car model. Just like at the end of a model year, there are attractive sales for outdated models.
End of car life cycle
It's when a car is no longer available. You can even save more money than on a redesigned car. Although cars degrade quite a bit as the lifespan of the car approaches, they are worth considering if you want to keep a car for a long time.
For safety reasons, it is important to know why a vehicle is being phased out. If it's due to a lack of interest, it may not be a problem. But if that car model has low performance or is unreliable, you should probably walk away from it.
What is the best time of the month to buy a car?
You'll likely find competitive car buying deals in the last week of a month or quarter. That's when car salespeople are more motivated to lower sticker prices, even if it means getting lower commissions. The lower commissions are compensated by receiving company bonuses for meeting the quota.
If you're concerned about buying in this short window, Edmunds recommends test driving the car you want earlier this month and purchasing the car by the end of the month. Many of the car purchase incentives also tend to roll over a few days into the new month, so there's extra time.
What time of the week is best to buy?
Monday is typically the best day of the week to buy a car. This is when the showrooms are least busy, which means you're likely to get more time and attention from the sales staff and more time for test drives.
Edmunds suggests that Tuesday is a better option than Monday if the car dealership is closed on Sunday. Retailers that close on Sunday are often much busier on Monday as salespeople catch up on work. Car dealers are much busier on weekends, but you can get lower car prices during a holiday weekend.
Which holidays are best to buy?
Most people are familiar with advertisem*nts from local car dealers encouraging people to take advantage of sales, but some car shopping holidays are better than others. Normally the best holidays to buy a car are Christmas Eve, New Year's Eve, Memorial Day and Black Friday.
New Year's Eve and Christmas Eve
If you can, wait until New Year's Eve to buy a car. As mentioned, the end of the year is the time when car salespeople are trying to meet their year-end, quarter, and month-end sales goals.
This is why the Christmas season – especially December 24 and December 27 to 30, according to Carfax – is a good time to go to dealers. Pedestrian traffic is light at this time.
Memorial Day-weekend
Memorial Day weekend is an ideal time for car buyers. It's the holiday weekend that kicks off the summer sales. During this time, car dealers have the largest inventory of outgoing models.
Black Friday
Since Black Friday falls at the end of the year, you should be able to get some great deals. And because it takes place at the end of the model year, current models are discounted more sharply.
Business day
While Labor Day doesn't rank as one of the best holidays for deals, it typically offers more car inventory and competitive pricing. This means more choice than at the end of the year.
Fourth of July
Likewise, Fourth of July has a nice selection of new and current annual cars on the square. This is ideal if you have a specific car or car options in mind.
President's Day
You may want to avoid Presidents Day weekend as it occurs during the slowest time of the year. According to Edmunds, the average manufacturer's suggested retail price discount in February is about 5.7%, the worst reduction of the year. End-of-year holidays often offer the best deals.
Current state of the car market: is it a good time to buy a car?
It's especially important to look for the best times of year to buy as the auto market struggles with inflation, supply chain issues like microchip shortages, and more.
“Forecasting car prices in 2023 is difficult at best,” said Julie Bausch, editor-in-chief ofCar talk, the companion website to the long-running NPR show of the same name."The sector is still recovering from the production problems and shortages caused by the pandemic and the war in Ukraine. There are some signs that prices are starting to fall, but at the moment things are still a bit exaggerated."
According to Kelley Blue Book, the average new car in the United States sold for $49,507 in December 2022,reaches record highs. While prices fell over the next two months, the February average of $48,763 was maintained5.3% higherthen in February 2021.
KBB also reports thisaverage used carin the US it cost $27,143 in December 2022, down $1,050 from the same time in 2021.Costs have fallen againin January, down to $26,510.
How to get the best deal on a car
To save money, you should not rely solely on purchasing during a period when many car purchases are made. To be prepared and to knowhow much car you can affordwill ensure that you are less likely to go over budget. This can also help you avoid the car salesman talking you into something that isn't right for you.
You'll also have more negotiating power – no matter how good a deal – if you get onepre-approved for a car loanfrom your bank or credit union and compare the offer with dealer financing. Protect yourself by reading the fine print and asking about other incentives, discounts and financing deals.
If you have a less than desirable onecreditworthiness, try to improve it before shopping. This is especially helpful if it's January or February, when discounts and lower sticker prices are scarce.
If that's what you plan to doTrade in your current car, here are some things you can do before you step into a showroom:
- If you have a car loan, ask your lender what the down payment amount is.
- Get an estimate of your car's trade-in value.
- Gather service records and other paperwork for your car.
- Show your car in detail.
When is the best time to buy a car?: Conclusion
There are several answers to the best time to buy a car. It is best to buy between October and January 1st. December is also particularly ripe for deals, discounts, rebates and other incentives. This is because car salespeople work aggressively to meet their monthly, quarterly and annual quotas.
Daniel RobinsonAuteur
Daniel is a team writer for MarketWatch Guides and has written for numerous automotive news sites and marketing companies in the United States and Great Britain. and Australia, specialized in car financing and car maintenance. Daniel is a MarketWatch Guides team authority on auto insurance, loans, warranty options, auto services and more.
Rashawn MitchnerManaging Editor
Rashawn Mitchner is team editor of MarketWatch Guides with more than 10 years of experience in personal finance and insurance.
